Market Analysis Report (21 Dec 2022)

Leading decentralized exchange, Uniswap, has partnered with fintech firm, Moonpay, to allow its users to buy cryptocurrency directly with supported debit or credit cards and with their bank accounts.

The bank transfer option is first being rolled out to users in most U.S. states, Brazil, the United Kingdom, and the Single Euro Payments Area (SEPA). The move allows users to convert fiat into crypto on Ethereum, Polygon, Optimism, or Arbitrum in a matter of minutes.

Uniswap is a decentralized exchange that allows users to custody their own funds via self-custodial wallets and allows for permissionless transactions on public blockchains.

The fiat on-ramp initially supports stablecoins DAI, USDC and USDT, along with some tokens including Ether, wrapped Ether (wETH), and wrapped Bitcoin (wBTC). Uniswap is hoping the move will improve the exchange’s onboarding process with its “no spread fees on USDC, lowest processing fees in the market, and instant access.”